Carvana Co (NYSE:CVNA) Major Shareholder Ernest C. Garcia II Sells 69,800 Shares

Carvana Co (NYSE:CVNA) major shareholder Ernest C. Garcia II sold 69,800 shares of Carvana stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $57.63, for a total value of $4,022,574.00. Following the transaction, the insider now owns 52,937,458 shares of the company’s stock, valued at $3,050,785,704.54. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Carvana stock opened at $62.98 on Friday. The company has a quick ratio of 0.76, a current ratio of 2.01 and a debt-to-equity ratio of 1.87. Carvana Co has a 52 week low of $24.03 and a 52 week high of $72.59. The firm has a market cap of $9.17 billion, a PE ratio of -36.40 and a beta of 2.39.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, February 27th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.08). Carvana had a negative return on equity of 21.06% and a negative net margin of 3.16%. The business had revenue of $584.80 million for the quarter, compared to analyst estimates of $601.14 million. During the same period last year, the firm posted ($0.36) EPS. Carvana’s quarterly revenue was up 120.6% on a year-over-year basis. As a group, research analysts forecast that Carvana Co will post -1.72 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Valeo Financial Advisors LLC grew its position in shares of Carvana by 100.0% in the 1st quarter. Valeo Financial Advisors LLC now owns 1,000 shares of the company’s stock valued at $58,000 after buying an additional 500 shares during the last quarter. First Mercantile Trust Co. boosted its position in shares of Carvana by 34.1% during the 4th quarter. First Mercantile Trust Co. now owns 3,061 shares of the company’s stock valued at $100,000 after purchasing an additional 779 shares in the last quarter. CX Institutional bought a new stake in shares of Carvana during the 4th quarter valued at about $106,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Carvana during the 4th quarter valued at about $131,000. Finally, Fifth Third Bancorp bought a new stake in shares of Carvana during the 3rd quarter valued at about $157,000. 34.59% of the stock is owned by institutional investors and hedge funds.

Several analysts recently issued reports on CVNA shares. Wells Fargo & Co restated a “buy” rating and issued a $57.00 price target on shares of Carvana in a research note on Thursday, February 28th. Citigroup boosted their price target on Carvana to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 28th. ValuEngine raised Carvana from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Zacks Investment Research raised Carvana from a “sell” rating to a “hold” rating in a report on Monday, March 18th. Finally, Barrington Research cut Carvana from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $54.73.

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Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.

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Insider Buying and Selling by Quarter for Carvana (NYSE:CVNA)

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